Ireland tax revenues up, department says

Ireland's Department of Finance has revealed that tax revenue rose by three per cent last month, helped by spending and other means.

The body said yesterday (February 5th) that tax income has grown by €109 million over the last 12 months, with Income Tax rising from €1.2 billion to €1.38 billion in that time.

While Corporation Tax fell, the department explained that this was because of delayed receipts that came in in January 2012.

However, Value Added Tax also grew year-on-year by €16 million, helping the country's overall figures to improve.

As the Irish Examiner reports, spending also increased across this period, with social protection expanding by 18 per cent at the same time.

It comes after IDA Ireland announced earlier this week that is has created 12,000 jobs over the last year as it encourages more firms to set up in the country.

Payment enterprises and technology businesses are among the biggest category of firms to set up in the country in the last year.

Posted by Thomas Fletcher

Last updated: 6th February 2013